A new era of responsibility conference - Weds 10 June 2009 - sponsored by National Grid

Business in the Community's conference 'A New Era of Responsibility' took place on Wednesday 10 June and was attended by 130 delegates from a variety of sectors. Despite the tube strike, the event was well attended with some outstanding speakers offering real insights into the value of corporate responsibility (CR). The event was kindly sponsored by National Grid.

The main topics that were discussed during the day were trust, talent and supply chain issues.

In the afternoon session Toby Shillito, CR Index Director and Charlotte Turner, Research Director, talked through the results of the CR Index. They revealed who were the sector leaders and by looking at the results, what were the key issues for business at the moment.

The first debate of the day focused on whether corporate responsibility was an overhead or value creator. The panel discussed that businesses create value when they are doing something that will benefit customers, communities and at the same time, the business.

Businesses can sink money into 'CR' schemes, but if there are no business benefits then this just looks like PR and doesn't create any real value.

Integration of CR into a business

The general consensus from the panel and the room was that in order for CR to add real value it has to be completely integrated into a business.

Many of the businesses present spoke about how they don't have corporate responsibility budgets or large CR departments.

Instead their corporate responsibility activity is spread across the organisation. One panelist commented that there is a danger that a well funded department sends a signal that the rest of the organisation doesn't have to worry about responsible business issues.

However, another panelist insisted that a CR department is a necessary central function that is still needed to support and ensure that corporate responsibility is embedded throughout a business.

Recession and opportunities

The panel discussed how the financial crisis and recession presents the business community with challenges, but also opportunities. Businseses must respond quickly in order to capitalise on these.

Addressing responsible business issues can encourage innovation, but it can also cause inertia. The conference discussed that this isn't necessarily a bad thing and that taking less risks can be good.

The conference discussed how the old version of corporate responsibility no longer existed and that a new understanding of what it means to be a responsible business would emerge from the financial crisis and recession.

Trust in business

The conference delegates also discussed that a new version of business would also emerge and that a public debate was needed in order to work out what this would look like. In order for trust in business to be restored the debate must not happen behind closed doors, but in a public forum - and must be led by business and not government.

The conference discussed that in the future businesses are going to have to be more flexible and agile in order to survive. It was commented that the public are way ahead of the curve when it comes to thinking and actions around corporate responsibility and that businesses were lagging behind.

The importance of leadership on corporate responsibility within a business was noted by many as being critically important to the extent to which it was successful and embedded within an organisation's operations.

Businesses need to reclaim leadership in this area. Without grabbing the mantle, business won't regain the trust and lack of confidence from the public that they have lost.